Anthony Scaramucci Says Bitcoin Can Hit $700K, Predicting Match To Gold — ‘Could Bitcoin 10x In The Next 15 Years? I Believe It’

Anthony Scaramucci, founder of Skybridge Capital, predicted that Bitcoin could potentially become a $500,000 or even $700,000 asset despite only 5% adoption in the US

In an interview with David Lin on June 7, Scaramucci suggested that if Bitcoin continues to scale and gain adoption at the same pace as it has over the past decade, its value could reach unprecedented levels. He compared Bitcoin’s potential growth to that of gold and asked, “If gold is $16 trillion and Bitcoin is $1.5 trillion, can Bitcoin grow 10x in the next 15 years?” he shouted.

Scaramucci previously spoke to CNBC last April about his $16 trillion market cap estimate for Bitcoin, reminding viewers that no one holding the asset had lost money in the last 4 years.

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Scaramucci explained to Lin that in the digital world, people will accept a store of value if it meets certain criteria: scarcity, ease of use, and reliability. He told David: “There’s no reason why this couldn’t be a $300,000, $400,000, $500,000 asset.”

Scaramucci also noted that Bitcoin is currently being tracked as a tech asset, similar to Nvidia and other major tech stocks. However, as it matures, it will begin to exhibit gold-like properties. He also noted that interest rate cuts by central banks could impact Bitcoin as it expands market equity and provides relief in sectors such as real estate.

Last month, Scaramucci appeared on Benzinga’s Pre-Market Show on Monday. When the topic of 5% adoption in the US came up, he said: “This is like Web 1 in 1999. I would just tell you to look at the Web 1 volatility of Amazon, eBay and similar stocks in 1999. If everything adapts and scales (and I predict Bitcoin will scale), you will see a situation where Bitcoin has a billion users, the value of this network will increase exponentially and Bitcoin will be at $150,000.”

Accepting the 5,000-year history of gold as a valuable asset, Scaramucci pointed out that gold is not as user-friendly or portable as Bitcoin. “I understand why people own gold. “I understand man’s 5,000-year dependence on gold, but it is not as user-friendly or portable as Bitcoin.”

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In this article, Anthony Scaramucci Predicts Bitcoin to Match Gold, Saying It Could Reach $700K – ‘Could Bitcoin 10X in the Next 15 Years?’ ‘This I Believe’ appeared first on Benzinga.com

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